Tonight is all about Selena Gomez.

As music's biggest names stepped out to attend Billboard's annual Women in Music Dinner and Awards Gala, the "Come and Get It" singer received one of the biggest honors of the night.

In case you missed the big announcement, Selena is Billboard's 2017 Woman of the Year. After an introduction from close friends Elle Fanning and Francia Raisa, Selena took to the stage to accept her award.

"To be honest, I think Francia should be getting this award because she saved my life," the singer explained through tears. "I would like to thank my amazing team and family because they stuck with me through some really hard times."

Selena continued, "I couldn't be more grateful for the position that I've been given in my career. I want people to know I respect the platform I have deeply...I've never felt more proud to be a woman in this industry. I am so grateful for all the older women who have helped us up."

Selena joins a talented list of Woman of the Year honorees including Taylor Swift, Pink, Fergie and Beyoncé.

Before the first award was even handed out, Selena and Francia opened up about their friendship that only grew after their kidney surgeries. 

"I'm really honored to do this for her tonight," Francia shared with Billboard on the pink carpet. "I was just glad I was able to do. I'm glad I was a match. She's standing here and being honored and I've seen her career continue to soar, it's amazing." 

Selena would add, "I'm good. That whole experience made me look at life a little differently and I'm grateful for that. It feels good to be able to share my story the way I want to. I'm good, I'm really good." 

As for why the "Wolves" singer was deserving of the title this year, event organizers cited her impressive work both on and off the stage.

"Not only is Selena soaring on the charts, but she continuously inspires young women everywhere to be authentic, give back and to not be afraid to use their voice," said John Amato, president of The Hollywood Reporter-Billboard Media Group. "She is never afraid to speak her mind and has used her platform to advocate for the needs of others. We are thrilled to be able to honor her as our Woman of the Year."

In addition to her smash-hit singles, Selena served as an executive producer for Netflix's 13 Reasons Why. She launched partnerships with Coach and Puma and also raised more than $500,000 for the Lupus Research Alliance.

"I'm really proud of where I am right now. I handle things in a healthy way. I can enjoy where I'm at," she explained in the latest issue of Billboard. "I love being able to say 'no.' I like being a part of the world."

As for what's on her agenda next, Selena admitted during her acceptance speech that she hopes to have even more new music coming in 2018.

"I don't know how I'll ever repay it but maybe I'll make an epic album next year," she teased with a smile." 

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